Allen R. Freedman, Chief Executive Officer of Fortis, Inc. and Chairman of the Fortis, Inc. Board of Directors stated, 'I'm pleased that Henjo and Kerry, both long-term contributors to the Fortis organization have joined the U.S. Board. Their talents and depth of experience will further diversify what is an already strong Board of Directors.'
Henjo Hielkema, Vice Chairman of Fortis and Chairman of Fortis Insurance, has been a member of the Board of Directors of Fortis (NL) since 1988 and Vice Chairman of the Fortis Group since its creation in 1990. Mr. Hielkema is also a member of the Board of Directors of Fortis (B). Mr. Hielkema studied business administration at the University of Nijenrode, holds a BA in Marketing from the University of Oregon and an MBA from Texas Technological University. He has worked for Arthur Andersen, Algemene Bank Nederland and Chase Manhattan Bank.
J. Kerry Clayton is Executive Vice President of Fortis, Inc. Mr. Clayton is responsible for the management of several Fortis U.S. business units: American Security Group, Fortis Long Term Care (including ACSIA and AdultCare), and Fortis Provider Markets; he is also responsible for corporate areas including mergers and acquisitions, information technology, and legal. He is a member of Fortis, Inc.'s five-person Executive Committee.
Mr. Clayton was President of Fortis Benefits Insurance Company, as well as Senior Vice President, Finance for Fortis, Inc. in New York. He has also held several positions with American Security Group in Atlanta, Georgia, a company that Fortis, Inc. acquired in 1980. Mr. Clayton is a native of Atlanta, and holds an engineering degree from Georgia Tech and an MBA from Harvard Business School.
Mr. Clayton will also assume management responsibilities for Fortis Financial Group, from Fortis, Inc. Executive Committee member, Ed O'Hare. As announced last week, Fortis has entered into a definitive agreement for Fortis to acquire 100 percent of the outstanding common and preferred shares of American Bankers Insurance Group, Inc. (NYSE: ABI) which it intends to combine with its credit insurance subsidiary, American Security Group. Edward J. O'Hare, Executive Vice President of Fortis, Inc., will become President and Chief Executive Officer of the combined entity.
Fortis, Inc. is a financial services company that, through its operating companies and affiliates, provides specialty insurance and investment products to businesses, associations, financial service organizations and individuals in the U.S. The company owns or manages approximately $16 billion in assets. Fortis, Inc. is part of the international Fortis group, which operates in the fields of insurance, banking and investments, with assets in excess of $360 billion. Fortis' listed companies are Fortis (B)of Belgium and Fortis (NL) of the Netherlands.
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